Collection and recovery of equalisation levy on specified services
Section 166 of the Finance Act, 2016 deals with collection and recovery of equalisation levy on specified services. [Collection and recovery of equalisation levy on specified services] 166. The Act was enacted on 27 Jun 2016.
[Collection and recovery of equalisation levy on specified services]
166.
(1) Every person, being a resident and carrying on business or profession or a non-resident having a permanent establishment in India (here in this Chapter referred to as assessee) shall deduct the [equalisation levy referred to in sub-section (1) of section 165] from the amount paid or payable to a non-resident in respect of the specified service at the rate specified in section 165, if the aggregate amount of consideration for specified service in a previous year exceeds one lakh rupees.
(2) The equalisation levy so deducted during any calendar month in accordance with the provisions of sub-section (1) shall be paid by every assessee to the credit of the Central Government by the seventh day of the month immediately following the said calendar month.
(3) Any assessee who fails to deduct the levy in accordance with the provisions of sub-section (1) shall, notwithstanding such failure, be liable to pay the levy to the credit of the Central Government in accordance with the provisions of sub-section (2).
1. Substituted for "Collection and recovery of equalisation levy" by the Finance Act, 2020 w.e.f. 1-4-2020
2. Substituted for "equalisation levy" by the Finance Act, 2020 w.e.f. 1-4-2020.
Section 166, The Finance Act, 2016.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 166
What does Section 166 of the Finance Act deal with?
Section 166 of the Finance Act is headed "Collection and recovery of equalisation levy on specified services". [Collection and recovery of equalisation levy on specified services] 166.
How do I find court cases under Section 166 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 166, section 166 Finance Act 2016, section 166 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 166 of the Finance Act, and has it changed?
Its own text turns on section 165 (Charge of equilisation levy on specified services), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was Section 166 of the Finance Act enacted?
Section 166 of the Finance Act, cited as Finance Act 2016 166, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.
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- Eighth Schedule. Eighth Schedule19903 words
- First Schedule. First Schedule8145 words
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- 222. Insertion of new Chapter III F2100 words
- 70. Substitution of new section for section 1531931 words
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